Dear TW group,
As a50 year long freeholder, the lease holder has approached me to extend his lease on his flat for 99 years. We have agreed on the amount of £50,000.
It was the last thing I was expecting and I am very unwell with the worries that this income will cause to my state pension and inland revenue purposes.
Am I liable to pay CGT on this? If so at what rate?
Where do I even begin?
Please HELP, all and any advice gratefully received.
Thanking you all in advance for helping me in any way that you can.
Kind regards.
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